Ask Question
BusinessBusiness
4 July, 17:05

Noura Company offers an annual bonus to employees (to be shared equally) if the company meets certain net income goals. Prepare the journal entry to record a $15,000 bonus owed (but not yet paid) to its workers at calendar year-end.

+1
Answers (1)
  1. 4 July, 20:45
    0
    Dr. Cr.

    Employees Bonus Expense $15,000

    Bonus Payable $15,000

    Explanation:

    Bonus is paid to employee on a decided amount or decided percentage or ratio. It is an expense for the organization and it should be recorded in the relevant period as per accrual concept even it is not paid. The Entry will be made as Bonus expense is debited and Bonus payable is credit because at the end of year it is unpaid.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Noura Company offers an annual bonus to employees (to be shared equally) if the company meets certain net income goals. Prepare the journal ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Choose as many answers as apply. which of the following items did joe include in his fixed expenses? rent utilities food insurance
Answers (1)
How would you bookmark a web page using a GUI web browser? A. Open a new browser window or tab. B. Log in to your web-based email program. C. Use the pull-down menu to click on a previously visited URL. D. Click on the star or favorites icon.
Answers (1)
Service level is:A) the probability of stocking out. B) the probability of not stocking out. C) something that should be minimized in retail.
Answers (1)
Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely uses the company car, which is supposed to be used only for taking clients to view property, not to run her personal errands.
Answers (2)
Use the dividend growth model to determine the required rate of return for equity. Your firm intends to issue new common stock. Your investment bankers have determined that the stock should be offered at a price of $45.
Answers (1)
New Questions in Business
What does it mean to be concise in business writing? A. to use facts that readers can easily verify B. to use language that impresses readers C. to use fewer words to clearly convey ideas D. to use reliable sources to present information
Answers (1)
Paar Corporation bought 100 percent of Kimmel, Inc., on January 1, 2015. On that date, Paar's equipment (10-year remaining life) has a book value of $420,000 but a fair value of $520,000.
Answers (1)
On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale.
Answers (1)
Leading economic indicators are: A. the most popular economic statistics. B. data that are used to construct the consumer price index and the unemployment rate. C. variables that tend to fluctuate in advance of the overall economy. D.
Answers (1)
Is ged the same as graduating high school?
Answers (1)
Home » Business » Noura Company offers an annual bonus to employees (to be shared equally) if the company meets certain net income goals. Prepare the journal entry to record a $15,000 bonus owed (but not yet paid) to its workers at calendar year-end.
Sign Up Forgot Password?